What NAPFA hopes to achieve with its new membership criteria

Starting in January, the National Association of Personal Financial Advisors will require those seeking membership as registered financial advisers to have the certified financial planner designation. "It's really not a big departure from what we've done in the past," said Lauren Locker, NAPFA chairman. "The bigger issue here is that the CFP Board and the FPA are taking that first step in trying to make financial planning a real profession. I think we're all in agreement that let's all start with the CFP designation."